Ferry group revenue up 4.6%

IRISH Continental Group (ICG) has reported a 4.6% year-on-year increase in third-quarter revenue to €84.9 million.

Despite this, however, the ferry and freight services group, which owns Irish Ferries, saw earnings decline in the period and said that full-year earnings will also be down.

ICG’s operating profit for the three months to the end of September amounted to €18.5m, down from €19m for the same period last year. Similarly, EBITDA (earnings before interest, tax, depreciation and amortisation) was down year-on-year from €25m to €23.9m.